Smart’s wireless broadband subscriber base, meanwhile, reached 2 million at the end of the period.

In a statement, PLDT said the jump was also a result of the rise in core income and the increase in manpower rightsizing program (MRP) expenses in the first quarter of 2013 following the application of Revised Philippine Accounting Standard (PAS) 19, which offset higher foreign exchange and derivative losses.

“In the first quarter of 2014, consolidated revenues grew 3 percent year-on-year on the back of a 22 percent rise in broadband and data revenues, muted by a 2 percent decline in legacy revenues and a similar decline in combined LEC, cellular domestic voice and SMS revenues,” added PLDT chairman Manuel V. Pangilinan.

Pangilinan believes PLDT “is firmly back on the growth path” and is on track to meet its core net income guidance of P39.5 billion for the full year 2014.